ABSTRACT This study examines the relation between corporate social responsibility (CSR) and goodwill impairment. We rely mainly on the stakeholder theory and adopt the Posner (1974) public interest...
{"title":"Corporate Social Responsibility and Goodwill Impairment","authors":"J. Golden, Li Sun, Joseph H. Zhang","doi":"10.2308/APIN-51971","DOIUrl":"https://doi.org/10.2308/APIN-51971","url":null,"abstract":"ABSTRACT This study examines the relation between corporate social responsibility (CSR) and goodwill impairment. We rely mainly on the stakeholder theory and adopt the Posner (1974) public interest...","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"18 1","pages":"1-28"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45545930","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
After releasing preliminary earnings, firms may encounter accounting issues that cause them to announce an earnings revision or fail to meet a filing deadline. We experimentally examine how management attributions (accepting responsibility versus denying responsibility) influence investor reactions to these adverse financial reporting events. We find that investor reactions, as measured by perceptions of management trustworthiness and investment recommendations, to earnings revisions are more favorable (unfavorable) when managers accept (deny) responsibility by attributing the revision to an internal (external) factor. In contrast, investor reactions to late filings are not influenced by these management attributions. We also find that when the announcement does not quantify the earnings revision, accepting responsibility results in more favorable perceptions of management trustworthiness but not more favorable investment recommendations. These findings provide novel insights regarding variability in the effectiveness of management attributions to explain an adverse financial reporting event and the consequences for the public interest. Data Availability: Contact the authors for data.
{"title":"Investor Reactions to Management Attributions: Revisions versus Late Filings Following Preliminary Earnings Announcements","authors":"L. Patelli, Lisa M. Victoravich","doi":"10.2308/APIN-52329","DOIUrl":"https://doi.org/10.2308/APIN-52329","url":null,"abstract":"\u0000 After releasing preliminary earnings, firms may encounter accounting issues that cause them to announce an earnings revision or fail to meet a filing deadline. We experimentally examine how management attributions (accepting responsibility versus denying responsibility) influence investor reactions to these adverse financial reporting events. We find that investor reactions, as measured by perceptions of management trustworthiness and investment recommendations, to earnings revisions are more favorable (unfavorable) when managers accept (deny) responsibility by attributing the revision to an internal (external) factor. In contrast, investor reactions to late filings are not influenced by these management attributions. We also find that when the announcement does not quantify the earnings revision, accepting responsibility results in more favorable perceptions of management trustworthiness but not more favorable investment recommendations. These findings provide novel insights regarding variability in the effectiveness of management attributions to explain an adverse financial reporting event and the consequences for the public interest.\u0000 Data Availability: Contact the authors for data.","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45363643","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper explores the contribution of the AAA Public Interest Section academic journal, Accounting and the Public Interest, to socially responsive and responsible accounting scholarship. Contributors, their doctoral-granting schools, institutional affiliation at time of publication, and their research topics in the first 15 volumes were analyzed. Source literature is explored through analysis of references. Citation analysis performed using Google Scholar's advanced search function revealed strong citation of papers published in API, both in terms of numbers of citations and quality of citing journals. Overall the study results indicate API is a high-quality publication and the journal is fulfilling its mission to provide an outlet for innovative research through use of alternative theories and methodologies. Data Availability: Data are available from the public sources cited in the text.
{"title":"An Analysis of Contributors, Institutions, and Content of Accounting and the Public Interest 2001–2015","authors":"Diane H. Roberts","doi":"10.2308/APIN-52245","DOIUrl":"https://doi.org/10.2308/APIN-52245","url":null,"abstract":"\u0000 This paper explores the contribution of the AAA Public Interest Section academic journal, Accounting and the Public Interest, to socially responsive and responsible accounting scholarship. Contributors, their doctoral-granting schools, institutional affiliation at time of publication, and their research topics in the first 15 volumes were analyzed. Source literature is explored through analysis of references. Citation analysis performed using Google Scholar's advanced search function revealed strong citation of papers published in API, both in terms of numbers of citations and quality of citing journals. Overall the study results indicate API is a high-quality publication and the journal is fulfilling its mission to provide an outlet for innovative research through use of alternative theories and methodologies.\u0000 Data Availability: Data are available from the public sources cited in the text.","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42490010","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study examines the effects of Corporate Social Responsibility (CSR) and wrongdoer rank on the likelihood of reporting fraud internally versus externally. Using a 2 × 2 between-subjects experiment with 90 managerial accounting professionals as participants, we manipulate a hypothetical firm's CSR status (CSR firm versus non-CSR firm) and wrongdoer rank within the firm (CFO versus Senior Accounting Manager). Participants in the CSR condition are more likely than participants in the non-CSR condition to report fraud through the internal reporting channel relative to the external reporting channel. Further, results show that internal reporting likelihood is greater when the wrongdoer is the Senior Accounting Manager than when the wrongdoer is the CFO. Structural equation analysis reveals that affective organizational commitment fully mediates the relation between CSR status and the preference to report internally. JEL Classifications: M40; M14. Data Availability: Data are available upon request from the authors.
{"title":"The Effects of Corporate Social Responsibility and Wrongdoer Rank on Whistleblowing","authors":"Alisa G. Brink, C. Eller, Karen Y. Green","doi":"10.2308/APIN-52240","DOIUrl":"https://doi.org/10.2308/APIN-52240","url":null,"abstract":"\u0000 This study examines the effects of Corporate Social Responsibility (CSR) and wrongdoer rank on the likelihood of reporting fraud internally versus externally. Using a 2 × 2 between-subjects experiment with 90 managerial accounting professionals as participants, we manipulate a hypothetical firm's CSR status (CSR firm versus non-CSR firm) and wrongdoer rank within the firm (CFO versus Senior Accounting Manager). Participants in the CSR condition are more likely than participants in the non-CSR condition to report fraud through the internal reporting channel relative to the external reporting channel. Further, results show that internal reporting likelihood is greater when the wrongdoer is the Senior Accounting Manager than when the wrongdoer is the CFO. Structural equation analysis reveals that affective organizational commitment fully mediates the relation between CSR status and the preference to report internally.\u0000 JEL Classifications: M40; M14.\u0000 Data Availability: Data are available upon request from the authors.","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42586009","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Tax Cuts and Jobs Act of 2017 overhauled the U.S. corporate tax system, lowering the statutory rate, exempting foreign earned income, and strengthening anti-abuse provisions. However, opportunities and incentives for abuse remain. Therefore, while developing tax policy is helpful, this paper posits that developing tax professionalism—not only tax policy—is needed. Efforts to reform tax policy should be balanced with efforts to develop and guard tax professionalism. Implementing tax policies in a flourishing tax system requires flourishing tax professionals. We develop theoretical and moral analyses to assess tax policy and tax professionalism approaches to tax reform. By targeting processes in the tax system, the tax policy approach attempts to influence practitioner behavior by restricting opportunities and incentives for corporate tax aggression. The tax professionalism approach recognizes that beneath efforts to influence behavior is a deeper, fundamental challenge to develop and protect tax professionals as reflexive agents capable of responsibly handling tax system opportunities and incentives. The tax professionalism approach focuses on persons in the tax system—not processes. This paper draws attention to the limitations of the tax policy approach and to the complementary need for the tax professionalism approach and proposes practical approaches to developing tax professionalism.
{"title":"Making Tax Havens Work: The Necessity of Tax Professionalism","authors":"Martin T. Stuebs, Helen Whiteaker-Poe","doi":"10.2308/APIN-52181","DOIUrl":"https://doi.org/10.2308/APIN-52181","url":null,"abstract":"\u0000 The Tax Cuts and Jobs Act of 2017 overhauled the U.S. corporate tax system, lowering the statutory rate, exempting foreign earned income, and strengthening anti-abuse provisions. However, opportunities and incentives for abuse remain. Therefore, while developing tax policy is helpful, this paper posits that developing tax professionalism—not only tax policy—is needed. Efforts to reform tax policy should be balanced with efforts to develop and guard tax professionalism. Implementing tax policies in a flourishing tax system requires flourishing tax professionals. We develop theoretical and moral analyses to assess tax policy and tax professionalism approaches to tax reform. By targeting processes in the tax system, the tax policy approach attempts to influence practitioner behavior by restricting opportunities and incentives for corporate tax aggression. The tax professionalism approach recognizes that beneath efforts to influence behavior is a deeper, fundamental challenge to develop and protect tax professionals as reflexive agents capable of responsibly handling tax system opportunities and incentives. The tax professionalism approach focuses on persons in the tax system—not processes. This paper draws attention to the limitations of the tax policy approach and to the complementary need for the tax professionalism approach and proposes practical approaches to developing tax professionalism.","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47497006","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Casino gambling has greatly expanded in the United States since 1988. This paper considers the public interest implications of this change, including increased social costs and state revenues from casinos that can help address these costs. We describe casino growth, including the role of the Indian Gaming Regulatory Act (IGRA) in casino development. After reviewing the research associated with casino social costs and state revenues, we select a number of states, concentrating in the northeastern United States, and describe the state revenues from casinos along with the funding that is provided for problem gambling prevention and treatment programs. We find a lack of consistency in the state casino tax rates, resulting revenues, and support for problem gambling prevention and treatment programs. Since billions of dollars of revenues are potentially at stake, state leaders should consider employing a strategy to capitalize on these revenues, given the increasingly prevalent social costs associated with casinos and the need to support problem gambling prevention and treatment programs.
{"title":"The Expansion of Casino Gambling in the United States—State Revenues and Public Interest Implications","authors":"Julia M Camp, Carol A. Hartley, P. Kelly","doi":"10.2308/APIN-52199","DOIUrl":"https://doi.org/10.2308/APIN-52199","url":null,"abstract":"\u0000 Casino gambling has greatly expanded in the United States since 1988. This paper considers the public interest implications of this change, including increased social costs and state revenues from casinos that can help address these costs. We describe casino growth, including the role of the Indian Gaming Regulatory Act (IGRA) in casino development. After reviewing the research associated with casino social costs and state revenues, we select a number of states, concentrating in the northeastern United States, and describe the state revenues from casinos along with the funding that is provided for problem gambling prevention and treatment programs. We find a lack of consistency in the state casino tax rates, resulting revenues, and support for problem gambling prevention and treatment programs. Since billions of dollars of revenues are potentially at stake, state leaders should consider employing a strategy to capitalize on these revenues, given the increasingly prevalent social costs associated with casinos and the need to support problem gambling prevention and treatment programs.","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48259906","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Nathan R. Berglund, Don Herrmann, Bradley P. Lawson
ABSTRACT Current audit guidance directs the auditor to modify their opinion in the presence of significant doubt about their client's ability to continue as a going concern. This paper examines whe...
{"title":"Managerial Ability and the Accuracy of the Going Concern Opinion","authors":"Nathan R. Berglund, Don Herrmann, Bradley P. Lawson","doi":"10.2308/APIN-52125","DOIUrl":"https://doi.org/10.2308/APIN-52125","url":null,"abstract":"ABSTRACT Current audit guidance directs the auditor to modify their opinion in the presence of significant doubt about their client's ability to continue as a going concern. This paper examines whe...","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"18 1","pages":"29-52"},"PeriodicalIF":0.0,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49533843","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Annual Editor Report","authors":"Pamela B. Roush","doi":"10.2308/APIN-10610","DOIUrl":"https://doi.org/10.2308/APIN-10610","url":null,"abstract":"","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.2308/APIN-10610","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49612376","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ABSTRACT: As part of a study on the value of corporate social responsibility (CSR) reporting for market participants, Dhaliwal, Radhakrishnan, Tsang, and Yang (2012) document a positive future earnings response coefficient (FERC) related to CSR report issuance. They argue the reports allow investors to better identify companies' social and environmental performance and thus better predict their future earnings. Our concern is that they fail to consider that CSR reports are likely issued for reasons other than informing investors, and we further argue that the low average quality of CSR reports makes it unlikely that companies use them for informing investors of actual social and environmental performance. Focusing on only first-time issuances of CSR reports by U.S. firms, we find, in contrast to Dhaliwal et al. (2012), no significant impacts on FERCs. Our results are robust to consideration of report quality and potentially differing impacts for firms operating in industries facing higher levels of social...
{"title":"Does CSR Reporting Really Impact FERCs","authors":"R. Birkey, Ronald P. Guidry, Dennis M. Patten","doi":"10.2308/APIN-51921","DOIUrl":"https://doi.org/10.2308/APIN-51921","url":null,"abstract":"ABSTRACT: As part of a study on the value of corporate social responsibility (CSR) reporting for market participants, Dhaliwal, Radhakrishnan, Tsang, and Yang (2012) document a positive future earnings response coefficient (FERC) related to CSR report issuance. They argue the reports allow investors to better identify companies' social and environmental performance and thus better predict their future earnings. Our concern is that they fail to consider that CSR reports are likely issued for reasons other than informing investors, and we further argue that the low average quality of CSR reports makes it unlikely that companies use them for informing investors of actual social and environmental performance. Focusing on only first-time issuances of CSR reports by U.S. firms, we find, in contrast to Dhaliwal et al. (2012), no significant impacts on FERCs. Our results are robust to consideration of report quality and potentially differing impacts for firms operating in industries facing higher levels of social...","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"17 1","pages":"144-162"},"PeriodicalIF":0.0,"publicationDate":"2017-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48353520","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ABSTRACT: Contemporary accounting conceptual frameworks depict reporting entities as self-evident stand-alone units whose current activities are likely to continue. That representation is revisited in light of Veblen's (1904) sabotage thesis that managers routinely utilize mechanisms that disrupt underlying markets. Credit default swaps played a significant role in the 2008 subprime financial crisis, blurring the boundaries of entities to create entanglements that threatened the global financial infrastructure. The reporting entity and going concern concepts developed in a climate of philosophical pragmatism operating from a flawed premise that a scientific approach assures objective, value-free data. The conventional treatment of reporting entities is contrasted with emerging conversations that paint “the firm” as a legal fiction functioning within a dynamic and potentially unstable matrix. The paper argues that a distorted view on the underlying nature of the firm masks significant public interest issue...
{"title":"Revisiting the Firm, Reporting Entity, and Going Concern Concepts in Light of Financial Crisis","authors":"L. Moore","doi":"10.2308/APIN-51919","DOIUrl":"https://doi.org/10.2308/APIN-51919","url":null,"abstract":"ABSTRACT: Contemporary accounting conceptual frameworks depict reporting entities as self-evident stand-alone units whose current activities are likely to continue. That representation is revisited in light of Veblen's (1904) sabotage thesis that managers routinely utilize mechanisms that disrupt underlying markets. Credit default swaps played a significant role in the 2008 subprime financial crisis, blurring the boundaries of entities to create entanglements that threatened the global financial infrastructure. The reporting entity and going concern concepts developed in a climate of philosophical pragmatism operating from a flawed premise that a scientific approach assures objective, value-free data. The conventional treatment of reporting entities is contrasted with emerging conversations that paint “the firm” as a legal fiction functioning within a dynamic and potentially unstable matrix. The paper argues that a distorted view on the underlying nature of the firm masks significant public interest issue...","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"17 1","pages":"130-143"},"PeriodicalIF":0.0,"publicationDate":"2017-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49133381","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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